Zacks Investment Research cut shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Uniti Group Inc. is a real estate investment trust company. It engaged in the acquisition and construction of mission critical infrastructure in the communications industry. The company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. Uniti Group Inc. is headquartered in Little Rock, AR. “

A number of other equities analysts have also issued reports on UNIT. J P Morgan Chase & Co restated an overweight rating and set a $31.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Monday, August 14th. ValuEngine upgraded shares of Communications Sales & Leasing,Inc. from a hold rating to a buy rating in a research report on Monday, October 2nd. Cowen and Company restated a buy rating and set a $33.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Friday, July 28th. Citigroup Inc. lowered their target price on shares of Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a buy rating on the stock in a research report on Monday, August 7th. Finally, Royal Bank Of Canada began coverage on shares of Communications Sales & Leasing,Inc. in a research report on Monday, June 19th. They set an outperform rating and a $32.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Communications Sales & Leasing,Inc. currently has a consensus rating of Buy and a consensus price target of $29.44.

Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) opened at 15.36 on Tuesday. The firm’s market capitalization is $2.69 billion. The firm’s 50-day moving average is $16.48 and its 200 day moving average is $16.48. Communications Sales & Leasing,Inc. has a 52 week low of $13.81 and a 52 week high of $30.66.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The firm had revenue of $213.01 million for the quarter, compared to analyst estimates of $214.09 million. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. On average, equities analysts forecast that Communications Sales & Leasing,Inc. will post ($0.20) earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 15.63%. The ex-dividend date of this dividend is Thursday, September 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio is presently -750.00%.

In related news, insider Kenny Gunderman purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $19.23 per share, with a total value of $38,460.00. Following the completion of the acquisition, the insider now directly owns 267,553 shares in the company, valued at $5,145,044.19. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel L. Heard purchased 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $18.54 per share, with a total value of $100,116.00. Following the completion of the acquisition, the executive vice president now owns 40,793 shares of the company’s stock, valued at $756,302.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 15,700 shares of company stock valued at $297,116. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC lifted its holdings in shares of Communications Sales & Leasing,Inc. by 2.3% during the second quarter. Advisory Services Network LLC now owns 45,920 shares of the real estate investment trust’s stock worth $1,154,000 after purchasing an additional 1,047 shares during the period. IFP Advisors Inc lifted its holdings in shares of Communications Sales & Leasing,Inc. by 12.6% during the second quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 1,585 shares during the period. Capstone Asset Management Co. lifted its holdings in shares of Communications Sales & Leasing,Inc. by 8.7% during the second quarter. Capstone Asset Management Co. now owns 19,890 shares of the real estate investment trust’s stock worth $500,000 after purchasing an additional 1,590 shares during the period. Sei Investments Co. acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth $107,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter worth $242,000. 68.19% of the stock is owned by hedge funds and other institutional investors.

Communications Sales & Leasing,Inc. Company Profile

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

Analyst Recommendations for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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